Mumbai, 06 May 2024 (Commoditiescontrol): Domestic masur prices surged while imported varieties witnessed a decline across major mandis on Monday. The upswing in domestic masur prices was attributed to a constrained supply, coupled with robust demand at lower levels, which bolstered market sentiment. Local traders noted a decrease in arrivals, which buoyed prices despite the announcement of Chana imports being duty-free.
Reports from consuming centers indicated predominantly stable conditions, except in Kanpur, where buoyant demand and passive selling behavior among traders underpinned prices. The scarcity of supplies emerged as a key driver, bolstering spot market prices, although overall demand is yet to hit anticipated levels.
On the other hand, the price of Canadian-origin red lentils (CIF) in Mumbai remained steady at $715-720 per metric ton, mirroring figures from the previous session. Meanwhile, at the Kolkata port, prices ranged between $725-730 per metric ton for immediate delivery. Import quotations witnessed a marginal decline of $5 per metric ton owing to robust demand dynamics.
The market sentiment has shifted, with prices reversing their previous downward trajectory, in line with expectations. While supply constraints are anticipated to propel prices upward, a significant spike is unlikely until the commencement of Minimum Support Price (MSP) procurement.
Spot Masur Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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